The Zakat, Tax and Customs Authority (ZATCA) has urged businesses in Saudi Arabia subject to value added tax (VAT) with annual supplies exceeding SR40m ($10.7m) to file their July tax returns by August 31 or risk penalties of up to 25 per cent of the VAT due.
ZATCA stressed that timely compliance is essential and called on businesses to submit returns through its official website or via the ZATCA smartphone application.
The Authority warned that businesses failing to meet the August 31 deadline face fines starting from 5 per cent and rising to 25 per cent of the VAT payable, depending on the length of the delay.
Saudi tax warning
Businesses seeking further guidance can reach ZATCA through multiple channels, including:
VAT in Saudi Arabia
VAT is an indirect tax applied to most goods and services bought and sold by businesses in the Kingdom, with certain exceptions.
